Atomi Financial Group Inc. Lowers Holdings in General Electric (NYSE:GE)

Atomi Financial Group Inc. lowered its holdings in General Electric (NYSE:GE) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 25,032 shares of the conglomerate’s stock after selling 300 shares during the period. Atomi Financial Group Inc.’s holdings in General Electric were worth $4,175,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Jennison Associates LLC boosted its position in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the period. International Assets Investment Management LLC lifted its stake in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares during the period. Franklin Resources Inc. grew its position in General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares in the last quarter. Finally, State Street Corp increased its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $182.83 on Tuesday. The firm has a fifty day moving average price of $174.30 and a 200 day moving average price of $174.30. The stock has a market cap of $197.87 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19. General Electric has a 1-year low of $101.16 and a 1-year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.